LED lighting will comprise 93.8 per cent of street lighting sales worldwide by 2023, according to reports, writes lighting.co.uk.

This is almost double where it stands today, at just over 53 per cent.

This will be thanks to falling prices for LED street lights spurred on by the global shift towards the technology, according the Smart Street Lighting study from Navigant Research.

However, as the price of LEDs continues to erode, the long lifespan of LED products will result in fewer replacements, and overall revenue from street lighting will begin to fall.

Read more on this story at lighting.co.uk